President Bola Tinubu has presented a budget of N47.9 trillion for the 2025 fiscal year to the National Assembly.
President Tinubu made the presentation on Wednesday to the joint session of the National Assembly held at the House of Representatives chamber.
The budget is christened: “The Restoration Budget: Securing Peace, Rebuilding Prosperity.”
In the highlights, Tinubu said N4.91 trillion has been allocated to Defence and Security, while Infrastructure has N4.06 trillion, Education – N3.52 trillion, and Health – N2.48 trillion.
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A few weeks ago, the two chambers of the National Senate approved the 2025-2027 Medium Term Expenditure Framework, MTEF, and the Fiscal Strategy Paper, FSP, with a total spending of N47.9 trillion and a new borrowing plan of N9.22 trillion, constituting domestic and foreign borrowings.
While presenting budget’s details, President Tinubu said the 2025 appropriation was designed to address economic growth, human capital development, poverty reduction and insecurity.
The president also said the budget will seek to ensure macroeconomic stability, poverty reduction, promoting economic stability and developing human capital development.
He also said the budget is necessary to secure Nigeria’s ambition.
Details shortly
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